19 Dec 2014
EUR/GBP hovers around 20-day SMA
FXStreet (Mumbai) - The single currency trades almost unchanged versus the British pound, after upbeat German Gfk Consumer Climate data failed to provide any support to the Euro.
Currently, the EUR/GBP pair trades modestly flat at 0.7844 levels, having posted a new 2-week low of 0.7833 levels in the previous session. The Euro remains supported against the pound as 2nd day of EU Summit begins and also ahead of European Central Bank’s (ECB) announcement of 3-year LTRO repayment data later in the day.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7903 (Dec 8 High) and above which it could extend gains to at 0.7933 (Dec 9 High) levels. To the downside immediate support might be located at 0.7833 (Dec 18 Low) and below that at 0.78 levels.
Currently, the EUR/GBP pair trades modestly flat at 0.7844 levels, having posted a new 2-week low of 0.7833 levels in the previous session. The Euro remains supported against the pound as 2nd day of EU Summit begins and also ahead of European Central Bank’s (ECB) announcement of 3-year LTRO repayment data later in the day.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7903 (Dec 8 High) and above which it could extend gains to at 0.7933 (Dec 9 High) levels. To the downside immediate support might be located at 0.7833 (Dec 18 Low) and below that at 0.78 levels.